Excite Money & Investing-"S&P Report Shows U.S. Nonprofits Are Embracing Corporate-Style Compliance Measures

PRESS RELEASE

Excite Money & Investing: "S&P Report Shows U.S. Nonprofits Are Embracing Corporate-Style Compliance Measures

Monday October 17, 10:57 AM EDT

NEW YORK, Oct 17, 2005 /PRNewswire via COMTEX/ -- Three years after passage of the Sarbanes-Oxley Act, corporate governance remains a hot topic in the U.S. nonprofit sector.

Although these organizations, by virtue of their tax-exempt status, were not directly affected by Sarbanes-Oxley, the nonprofit sector has come under legislative scrutiny during the past few years, particularly in 2004 and 2005, and much of the focus is related to corporate governance, according to a report released today by Standard & Poor's titled, 'Under Legislative Scrutiny, The U.S. Nonprofit Sector Embraces Corporate-Style Oversight.'"